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Royal Orchid Hotels Credit Rating Outlook Upgraded to Positive for Rs 46 Cr Debt
ICRA Limited has reaffirmed the long-term credit rating of Royal Orchid Hotels Limited at [ICRA]A- while upgrading the outlook from 'Stable' to 'Positive'. This revision applies to total bank facilities worth Rs. 46.00 crore, which includes term loans of Rs. 26.14 crore and unallocated facilities of Rs. 19.86 crore. The shift to a positive outlook indicates the rating agency's expectation of continued improvement in the company's financial profile and debt-servicing capabilities. Such upgrades often lead to better borrowing terms and reflect growing operational stability.
Key Highlights
ICRA reaffirmed the long-term rating at [ICRA]A- for total bank facilities of Rs. 46.00 crore.
The rating outlook has been revised upward from 'Stable' to 'Positive'.
The rated debt includes HDFC Bank term loans amounting to Rs. 26.14 crore.
Unallocated facilities of Rs. 19.86 crore were also covered under the revised outlook.
💼 Action for Investors
Investors should view the outlook upgrade as a sign of strengthening financial health and reduced credit risk. This could potentially lead to lower interest costs and improved profitability in the long run.
Royal Orchid Hotels Q3 Revenue Grows 24% to ₹117.9 Cr; Total Keys Reach 10,700
Royal Orchid Hotels Limited (ROHLTD) reported a 24.3% YoY increase in consolidated revenue to ₹117.9 crore for Q3 FY26. While EBITDA grew by 13.8% to ₹34.8 crore, consolidated PAT (after associates) declined to ₹9.6 crore from ₹18.1 crore YoY, largely due to higher depreciation and finance costs associated with IndAS accounting and the launch of Iconiqa Mumbai. The company has aggressively expanded its portfolio to 121 operating hotels and a total of 10,700 keys including signed properties. Iconiqa Mumbai showed strong initial traction with ₹17.4 crore in Q3 revenue and a target annual run-rate of ₹80-100 crore.
Key Highlights
Consolidated revenue increased 24.3% YoY to ₹117.9 crore in Q3 FY26.
Total keys reached 10,700 across 168+ hotels (including upcoming), with 121 currently operational.
Iconiqa Mumbai contributed ₹17.4 crore in Q3 revenue, achieving a No. 1 TripAdvisor rating within 4 months.
Average Room Rate (ARR) for JLO hotels grew 10.3% YoY to ₹6,972, while Managed hotels ARR rose 4.7% to ₹4,454.
Consolidated PAT was significantly impacted by a ₹19.48 crore notional increase in depreciation and finance costs due to IndAS adoption.
💼 Action for Investors
Investors should monitor the scaling of the Iconiqa Mumbai property and the company's transition toward a capital-light managed-hotel model. While net profit is currently suppressed by lease accounting and expansion costs, the strong top-line growth and increasing ARR indicate healthy underlying demand.
Royal Orchid Hotels Q3 FY26 Revenue Up 24% YoY to INR 117.93 Cr; PAT at INR 9.62 Cr
Royal Orchid Hotels reported a robust 24.3% year-on-year increase in consolidated total income to INR 117.93 crore for Q3 FY26. Consolidated EBITDA reached INR 34.84 crore, while Profit After Tax (PAT) stood at INR 9.62 crore, notably impacted by a non-cash IND AS adjustment of INR 6.42 crore. The company added six new properties during the quarter and is pursuing an aggressive asset-light strategy. With a pipeline of over 1,800 keys planned for the next 6-9 months, the company is well-positioned to capture rising travel demand.
Key Highlights
Consolidated Total Income rose 24.3% YoY to INR 117.93 crore in Q3 FY26 from INR 94.86 crore.
Consolidated PAT for the quarter was INR 9.62 crore, with Earnings Per Share (EPS) at INR 3.29.
Added 6 new properties in Q3, strengthening presence in key corridors like NCR and Mumbai.
Management targets adding 1,800+ keys over the next 6-9 months via an asset-light growth model.
9M FY26 Consolidated PAT stands at INR 25.11 crore on a total income of INR 287.50 crore.
💼 Action for Investors
Investors should view the strong top-line growth and aggressive expansion pipeline as positive indicators of market share gains. While accounting adjustments impact reported PAT, the operational cash flows and asset-light scaling remain the primary value drivers.
Royal Orchid Hotels Q3 FY26 Revenue Up 24% to ₹117.9 Cr; Total Keys Reach 10,700
Royal Orchid Hotels reported a 24.3% YoY increase in consolidated total income to ₹117.9 crore for Q3 FY26, driven by a 45% surge in room night revenue. However, consolidated PAT fell 46.9% YoY to ₹9.6 crore, largely due to higher depreciation and finance costs from the new Iconiqa Mumbai property and IndAS accounting adjustments. The company's portfolio expanded to 121 operating hotels with a total pipeline of 10,700 keys. Operational performance was robust in the JLO segment, with Average Room Rates (ARR) rising 10.3% YoY to ₹6,972.
Key Highlights
Consolidated Total Income grew 24.3% YoY to ₹117.9 crore in Q3 FY26.
EBITDA increased by 13.8% YoY to ₹34.8 crore, with a consolidated margin of 30%.
Total keys reached 10,700 across 168+ hotels, including 47+ upcoming properties.
Iconiqa Mumbai generated ₹17.4 crore in revenue but reported a PBT loss of ₹10.6 crore due to high initial costs.
Managed hotels occupancy stood at 68% with room night revenue growing 45% YoY.
💼 Action for Investors
Investors should focus on the operational ramp-up of the Iconiqa Mumbai property, as its current losses are masking strong underlying growth in the core managed and owned segments. The aggressive expansion of the pipeline to 10,700 keys provides long-term visibility, but bottom-line recovery depends on stabilizing expansion-related finance costs.
Royal Orchid Hotels Q3 PAT Drops 15% to ₹6.75 Cr; Keshav Baljee Appointed Executive Director
Royal Orchid Hotels Limited (ROHLTD) reported a 3.2% YoY increase in standalone revenue to ₹58.69 crore for Q3 FY26, while Net Profit declined 15.3% to ₹6.75 crore. The company announced the transition of Keshav Baljee to Whole-time Director with a monthly salary of ₹10 lakh and a 50% pay hike for President Arjun Baljee. For the nine-month period ending December 2025, PAT fell to ₹14.24 crore from ₹18.60 crore YoY. Auditors have highlighted ongoing legal and regulatory challenges with SEBI and NCLT regarding the classification of an associate company, KSDPL.
Key Highlights
Standalone Revenue for Q3 FY26 stood at ₹58.69 crore versus ₹56.89 crore in the same period last year.
Net Profit (PAT) for the quarter decreased to ₹6.75 crore from ₹7.97 crore YoY.
Keshav Baljee appointed as Executive Director for 5 years at a monthly remuneration of ₹10 lakh.
President Arjun Baljee's monthly remuneration increased from ₹5 lakh to ₹7.5 lakh.
Auditor's report includes a qualified conclusion regarding ongoing litigation and SEBI orders related to KSDPL.
💼 Action for Investors
Investors should monitor the impact of rising employee and management costs on margins as profitability has declined despite stable revenues. The ongoing legal dispute regarding KSDPL remains a key risk factor to watch.
Royal Orchid Hotels Q3 PAT Declines 15% to ₹6.75 Cr; Management Remuneration Hiked
Royal Orchid Hotels Limited (ROHLTD) reported a standalone revenue of ₹58.69 crore for Q3 FY26, representing a modest 3.2% growth year-on-year. However, Net Profit (PAT) for the quarter fell by 15.3% to ₹6.75 crore, down from ₹7.97 crore in the previous year's corresponding quarter. The company also announced significant management changes, including the elevation of Keshav Baljee to Executive Director and a salary hike for President Arjun Baljee. Furthermore, the auditor's report highlights ongoing regulatory and legal challenges with SEBI and NCLT regarding the accounting treatment of an associate company.
Key Highlights
Standalone Revenue from operations increased 3.2% YoY to ₹58.69 crore in Q3 FY26.
Net Profit (PAT) for the quarter decreased 15.3% YoY to ₹6.75 crore from ₹7.97 crore.
Keshav Baljee appointed as Whole-time Director for 5 years with a monthly remuneration of ₹10 lakh.
President Arjun Baljee's monthly remuneration increased to ₹7.5 lakh, totaling ₹10 lakh including subsidiary pay.
Statutory auditors issued a qualified conclusion regarding ongoing litigation and accounting of Ksheer Sagar Developers Private Limited (KSDPL).
💼 Action for Investors
Investors should exercise caution due to the decline in profitability and the persistent regulatory overhang mentioned in the auditor's report. Monitor the progress of the SAT appeal regarding SEBI's final order and the impact of higher management costs on future margins.
Royal Orchid Hotels Q3 PAT Drops 15% YoY to ₹6.75 Cr; Auditor Issues Qualified Opinion
Royal Orchid Hotels Limited (ROHLTD) reported a marginal 3.2% YoY increase in revenue to ₹58.69 crore for the quarter ended December 31, 2025. However, Net Profit (PAT) declined by 15.3% YoY to ₹6.75 crore, down from ₹7.97 crore in the previous year, primarily due to higher operating expenses. The statutory auditors issued a qualified conclusion regarding ongoing legal disputes and a SEBI order related to the accounting of associate company Ksheer Sagar Developers. Additionally, the board approved the redesignation of Keshav Baljee as Executive Director and increased the remuneration for President Arjun Baljee.
Key Highlights
Revenue from operations grew 3.2% YoY to ₹58.69 crore in Q3 FY26.
Net Profit (PAT) fell 15.3% YoY to ₹6.75 crore compared to ₹7.97 crore in Q3 FY25.
Auditors issued a qualified opinion due to an ongoing SEBI/SAT legal battle regarding the 'loss of control' accounting of KSDPL.
Total expenses rose to ₹50.83 crore from ₹47.25 crore, driven by higher rent and other operational costs.
Keshav Baljee appointed as Whole-time Director for 5 years at a monthly remuneration of ₹10 lakhs.
💼 Action for Investors
Investors should exercise caution given the auditor's qualification and the regulatory overhang from the SEBI order regarding past accounting practices. The decline in net profit despite revenue growth indicates margin pressure that warrants close monitoring of operational efficiency.
Royal Orchid Hotels Expands in Vrindavan with New 36-Key Regenta Z Property
Royal Orchid Hotels Limited has signed a management contract for a new greenfield project, Regenta Z - Vrindavan, Mathura, targeting India's high-growth religious tourism sector. The 36-key property is scheduled for handover in April 2027 and will operate under the contemporary Regenta Z brand. This expansion follows the company's asset-light strategy, utilizing a management contract structure to minimize capital expenditure. The property is strategically located 6 km from Prem Mandir, positioning it to capture year-round pilgrim and leisure demand.
Key Highlights
Signed a management contract for a new 36-key property, Regenta Z - Vrindavan, Mathura.
Greenfield project scheduled for completion and handover in April 2027.
Strategically located 6 km from Prem Mandir and 10 km from Mathura Railway Station.
Expansion follows an asset-light model via a Head of Agreement (HOA) with owner Mr. Sachin Aggarwal.
Property will feature a multi-cuisine restaurant and a dedicated banquet hall for social and religious events.
💼 Action for Investors
Investors should monitor the company's progress in the religious tourism segment as it provides steady year-round occupancy. The continued shift towards an asset-light management model is a positive indicator for long-term return on capital employed (ROCE).
Royal Orchid Hotels Launches 5th Property in Amritsar, Regenta Ranjit Avenue
Royal Orchid Hotels (ROHLTD) has announced the launch of Regenta Ranjit Avenue in Amritsar, marking its fifth property in the city. The new hotel features 37 rooms and a large 4,500 sq. ft. banquet hall, strategically positioned to capture demand from the city's spiritual and cultural tourism. This expansion is part of the group's 'Vision 2030' roadmap to strengthen its presence in high-growth Indian markets. The property is located just 7 km from the Golden Temple, ensuring high visibility and accessibility for travelers.
Key Highlights
Launch of Regenta Ranjit Avenue marks the company's 5th hotel in Amritsar.
Property features 37 rooms across four categories and a 4,500 sq. ft. banquet hall.
Strategically located 7 km from the Golden Temple and 15 km from the international airport.
Expansion aligns with the company's 'Vision 2030' strategic growth roadmap.
Includes premium amenities like a rooftop swimming pool and multiple culinary outlets.
💼 Action for Investors
Investors should monitor the company's ability to scale its 'Vision 2030' plan and the resulting impact on RevPAR from high-demand religious tourism hubs. The stock remains a growth play in the mid-market hospitality segment.
Royal Orchid Hotels Divests Subsidiary Multi Hotels Ltd for USD 3.41 Million
Royal Orchid Hotels Limited (ROHL) has successfully executed an agreement to sell its 100% stake in subsidiary Multi Hotels Limited to Tanzania-based Greenleaf Properties Limited. The total consideration for the sale is USD 3,412,500, which will be paid in installments over a 120-day period. As the subsidiary had not yet commenced commercial operations, this divestment allows ROHL to unlock capital and focus on its core hospitality business in India. The move is intended to strengthen the company's balance sheet and optimize its asset portfolio for higher-growth opportunities.
Key Highlights
Divestment of 100% equity in Multi Hotels Limited for a total value of USD 3,412,500
Buyer is Greenleaf Properties Limited, an independent entity based in Tanzania
Multi Hotels Limited was a non-operational subsidiary that had not started commercial activities
Payment to be received in installments within 120 days from the execution date of January 29, 2026
Strategic shift to focus on core hospitality operations across owned, leased, and franchised models
💼 Action for Investors
Investors should view this as a positive capital allocation move that exits a non-performing asset to boost liquidity. Monitor how the company redeploys the USD 3.4 million proceeds into its core Indian hospitality expansion.
Royal Orchid Hotels to Sell Stake in Multi Hotels Ltd for USD 3.41 Million
Royal Orchid Hotels Limited (ROHL) has executed an agreement to sell its 96.37% stake in its subsidiary, Multi Hotels Limited, to Tanzania-based Greenleaf Properties Limited. The total consideration for the sale is USD 3,412,500, with payments expected in installments within 120 days. Since Multi Hotels Limited was a non-operational entity, this divestment represents a strategic move to monetize assets that were not yet contributing to the company's top line. The transaction was conducted at arm's length, although it involved the Chairman selling his personal 3.33% stake alongside the company.
Key Highlights
Divestment of 96.37% stake in subsidiary Multi Hotels Limited for USD 3,412,500
Buyer is M/s Greenleaf Properties Limited, a company registered in Tanzania
Target entity was non-operational with no revenue contribution in the last financial year
Consideration to be received in installments within 120 days of the agreement date
Transaction includes the sale of a 3.33% stake held by Chairman Chander K Baljee
💼 Action for Investors
Investors should view this as a positive liquidity event that monetizes a non-core, non-operational asset. Monitor the company's upcoming quarterly results for further details on how the proceeds will be utilized.
Royal Orchid Hotels Approves Sale of Subsidiary Multi Hotels Limited
Royal Orchid Hotels Limited (ROHL) has approved an enabling resolution for the sale of its entire shareholding in its subsidiary, Multi Hotels Limited. The proposed buyer is M/S Greenleaf Properties Limited, an independent entity, though CMD Chander K Baljee holds a minor 3.33% stake in the subsidiary. Multi Hotels Limited is currently non-operational and has not contributed any turnover or revenue to the company in the last financial year. The board has authorized senior management to negotiate terms and execute the sale agreement at an arm's length basis.
Key Highlights
Board approved the sale of 100% shareholding in subsidiary Multi Hotels Limited.
The subsidiary is currently non-operational with 0% contribution to consolidated turnover.
M/S Greenleaf Properties Limited has been identified as the potential buyer.
CMD Chander K Baljee holds a 3.33% stake in the target, but the deal will be at arm's length.
Management authorized to finalize consideration and execute documents following the enabling resolution.
💼 Action for Investors
Investors should monitor for the final sale price and the intended use of proceeds, though the impact on earnings is likely minimal given the subsidiary's non-operational status.
Royal Orchid Hotels Expands Leisure Portfolio with New 50-Room Resort in Jim Corbett
Royal Orchid Hotels Ltd (ROHL) has signed a new property, Regenta Place Resort, in the high-demand leisure destination of Jim Corbett, Uttarakhand. Developed in partnership with M/S VACAN HAUSS REALTY, the resort will feature 50 spacious rooms and a 3,500 sq. ft. banquet hall to cater to MICE and social events. This expansion is part of the company's strategic focus on capturing high-demand leisure markets in North India. The property will also include premium amenities such as a spa, swimming pool, and gym to attract upscale travelers.
Key Highlights
New resort signing in Jim Corbett under the Regenta Place brand to boost leisure portfolio.
The property features 50 well-appointed rooms and a 3,500 sq. ft. banquet hall for events.
Strategic partnership with M/S VACAN HAUSS REALTY for development and management.
Focus on high-demand North Indian tourism hubs to drive occupancy and revenue growth.
Comprehensive amenities include an on-site restaurant, bar, spa, and fitness center.
💼 Action for Investors
Investors should monitor the company's continued expansion into leisure hubs which typically offer higher margins. The addition of 50 rooms in a prime location like Jim Corbett strengthens the brand's footprint in the competitive North Indian market.
Royal Orchid Hotels Signs 43-Key Regenta Place Udaipur; Expected Opening March 2026
Royal Orchid Hotels Limited (ROHLTD) has announced the signing of Regenta Place Udaipur, a 43-key property in Rajasthan. The hotel will be operated under a management agreement, adhering to the company's asset-light growth strategy. The property is specifically designed for the destination wedding market, featuring a 7,000 sq. ft. banquet hall and a 30,000 sq. ft. lawn. This expansion strengthens ROHLTD's presence in a high-potential leisure market and is expected to open by March 2026.
Key Highlights
Signing of a new 43-key property in Udaipur, Rajasthan, under the Regenta Place brand
Asset-light expansion through a hotel management agreement with Mokkshi Hospitality & Services
Significant event infrastructure including a 7,000 sq. ft. banquet hall and 30,000 sq. ft. lawn
Targeted opening by March 2026 to capture leisure and wedding demand
💼 Action for Investors
This expansion reinforces ROHLTD's strategy to grow its portfolio without heavy capital expenditure. Investors should monitor the company's ability to scale its management-contract-based revenue in high-demand tourist circuits.
Royal Orchid Hotels Signs 60-Key Regenta Suites & Residences in Jaipur
Royal Orchid Hotels (ROHLTD) has signed a management agreement for a new 60-key property in Jaipur, scheduled to open by April 2026. The property, Regenta Suites & Residences Jaipur, follows the company's asset-light expansion strategy to minimize capital expenditure. This addition strengthens the company's footprint in a key urban and leisure destination, specifically targeting long-stay and business travelers. The project is being developed in partnership with SSBC Group.
Key Highlights
Signing of a 60-key property in Jaipur City Center under the Regenta brand
Projected opening date set for April 2026
Operated via a hotel management agreement, supporting an asset-light growth model
Strategic partnership with SSBC Group to target long-stay and business segments
💼 Action for Investors
This expansion reinforces the company's growth momentum in key leisure and business hubs. Investors should monitor the timely opening of the property and its impact on the company's management fee income.
Royal Orchid Hotels Signs 200-Key All-Suite Property in Jodhpur, Rajasthan
Royal Orchid Hotels Limited (ROHLTD) has signed a management agreement for a new 200-key all-suite property in Jodhpur, Rajasthan, under the 'Regenta' brand. This expansion follows the company's asset-light strategy, focusing on high-margin leisure and heritage destinations. The property, spread over 3,623 sq. m., is scheduled to open by December 2029 and will feature over 10,000 sq. ft. of banquet and event space. This move strengthens the company's presence in the Rajasthan tourism circuit, specifically targeting the destination wedding and premium leisure segments.
Key Highlights
Signed a 200-key all-suite property in Jodhpur under a hotel management agreement (asset-light model).
The property is spread across 3,623 sq. m. and is scheduled for a December 2029 opening.
Features extensive banquet facilities including a 6,000 sq. ft. hall and a 4,000 sq. ft. open terrace.
Strategically located near Jodhpur High Court to capture both commercial and heritage tourism demand.
Partnership with Jodhana Real Home Private Limited to develop premium leisure and wedding facilities.
💼 Action for Investors
Investors should note this as a positive long-term capacity expansion that reinforces the company's asset-light growth model. While the 2029 opening is distant, the addition of a 200-key all-suite property significantly enhances the brand's scale in the high-demand Rajasthan market.
Royal Orchid Hotels Launches Regenta Z Vadodara, 4th Property in the City
Royal Orchid Hotels Ltd (ROHLTD) has announced the launch of Regenta Z Vadodara, marking its fourth property in the city and strengthening its presence in Gujarat. This launch introduces the 'Regenta Z' brand, specifically designed to target the Gen Z and millennial demographic with a digital-first and affordable hospitality model. The 36-key property is strategically located in the upscale Alkapuri area, providing proximity to major transit hubs and the Statue of Unity. This expansion is a key component of the company's '2030 expansion roadmap' aimed at high-growth urban markets.
Key Highlights
Launch of Regenta Z Vadodara marks the group's 4th hotel in Vadodara, Gujarat
The property features 36 keys, including 2 Studio Suites and a 900 sq. ft. meeting space
Introduction of the 'Regenta Z' brand targeting the Gen Z and millennial demographic
Strategic location in Alkapuri, just 1 km from Vadodara Railway Station and 7 km from the airport
Expansion aligns with the company's long-term '2030 expansion roadmap' for urban markets
💼 Action for Investors
Investors should monitor the performance of the new 'Regenta Z' brand as it represents a strategic shift toward younger demographics. The continued expansion in commercial hubs like Vadodara supports long-term revenue growth and market share gains.
Royal Orchid Hotels Signs New 101-Room Regenta Property in Gwalior
Royal Orchid Hotels Ltd. (ROHL) has signed a management agreement for a new upscale hotel, 'Regenta Gwalior,' in Madhya Pradesh. The property will be developed in two phases, eventually offering a total of 101 rooms, with 71 rooms in Phase I and 30 rooms in Phase II. This signing marks the company's second property in Gwalior and its third in the state, reinforcing its asset-light growth strategy. Strategically located near Gwalior Airport, the hotel aims to capture demand from business travelers, tourists, and the MICE segment.
Key Highlights
Signing of 'Regenta Gwalior' under a Management Agreement, supporting an asset-light growth model
Total inventory of 101 rooms to be added in two phases (71 rooms in Phase I and 30 rooms in Phase II)
Strategic location near Gwalior Airport and major industrial zones to cater to business and transit guests
Expands the company's national footprint to over 119 hotels across India
Includes multiple banquet venues designed for weddings, corporate meetings, and social gatherings
💼 Action for Investors
Investors should view this as a positive step in the company's geographic diversification and asset-light expansion strategy. Monitor the operational commencement dates for both phases to assess future revenue contributions from the Central India region.
Royal Orchid Hotels Shareholders Approve New Independent Directors with 94% Majority
Royal Orchid Hotels Limited (ROHLTD) has successfully passed two special resolutions via postal ballot for the appointment of new Independent Directors. Shareholders approved the appointments of Mr. Rakesh Mehta and Ms. Nithyalakshmi Subramanian with a significant majority of 94.02% votes in favor for both. The voting process saw participation representing 68.51% of the company's total paid-up equity capital. This move strengthens the company's board composition and ensures compliance with regulatory requirements for independent and women directors.
Key Highlights
Appointment of Mr. Rakesh Mehta as Independent Director approved with 1,76,65,874 votes (94.02% of valid votes).
Appointment of Ms. Nithyalakshmi Subramanian as Independent Women Director approved with 1,76,66,171 votes (94.02% of valid votes).
Total voter turnout represented 1,87,88,829 equity shares, accounting for 68.51% of the total paid-up capital.
Both resolutions were passed as Special Resolutions, comfortably exceeding the required 75% threshold.
The e-voting process was conducted between November 21 and December 21, 2025.
💼 Action for Investors
Investors should take note of the strengthened board governance, which is a positive sign for long-term stability. No immediate portfolio changes are necessary based on this routine but important administrative update.
Royal Orchid Hotels Shareholders Approve Two Independent Directors with 94% Majority
Shareholders of Royal Orchid Hotels Limited (ROHLTD) have approved the appointment of Mr. Rakesh Mehta and Ms. Nithyalakshmi Subramanian as Independent Directors. Both special resolutions were passed with a significant majority, receiving approximately 94.02% of the votes in favor. The total voter turnout represented 68.51% of the company's total paid-up equity capital. These appointments ensure the company remains compliant with SEBI governance norms regarding board independence and gender diversity.
Key Highlights
Appointment of Mr. Rakesh Mehta as Independent Director approved with 1,76,65,874 votes (94.02% of valid votes).
Appointment of Ms. Nithyalakshmi Subramanian as Independent Women Director approved with 1,76,66,171 votes (94.02% of valid votes).
Total voting participation stood at 1,87,88,829 shares, accounting for 68.51% of the total paid-up capital.
Both resolutions were passed as Special Resolutions via a remote e-voting process concluded on December 21, 2025.
💼 Action for Investors
Investors should view this as a positive step for corporate governance and board stability. No immediate action is required as these are routine appointments to maintain regulatory compliance.